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2010 Retirement Guide

2010 Retirement Guide

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Published by Dave Owens

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Published by: Dave Owens on Jun 29, 2010
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08/31/2010

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Entrust Freedom, LLC, 4560 Via Royale, #1, Fort Myers, FL 33919, Phone: 239-333-1031 www.entrustfreedom.
com
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Entrust Freedom, LLC, 4560 Via Royale, #1, Fort Myers, FL 33919, Phone: 239-333-1031 www.entrustfreedom.
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Retirement Planning – Will we haveenough? That is the big question. Will youhave enough to live a liestyle that you eelcomortable with? Less than hal o workingAmericans have even begun to save or theirretirement, and most believe they will live18 years ater they retire. Retirement is nothard, but saving or retirement is.That is why we have assembled thisretirement guide or 2010. The rules orretirement are changing. We have askedexperts in various elds o nance tocontribute their expertise and compiledthe best o these to help you get started orevaluate your current progress and adjust totoday’s nancial climate. You will read aboutspecic strategies involving setting goals,using real estate in your plan, alternatives totraditional retirement accounts and more.The earlier you begin to plan or retirement,the more choices you have and the greateryour chances are or success. Retirementplanning is much like planning a vacation.Any trip begins with determining yourdestination, or goal, and a timetable ortaking each step toward that goal.Retirement is one o the most signicant lieevents many o us will ever experience. Fromboth a personal and nancial perspective,realizing a comortable retirement is anincredibly ar-reaching process that takeswise planning and continued determination.Even when goals are reached, managing yourretirement is an ongoing process that mustnot be neglected.Please eel ree to callEntrust Freedom or any o the other authors that havecontributed to this guide.
We wish you all the best and hope thisguide proves helpful as you pursue yourretirement goals.
Dave Owens
Dave Owens, CPA, CES isthe managing member oEntrust Freedom, LLC andcan be contacted at owens@entrustreedom.com or practicingtax accountant or over 20 years.
 
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1. Welcome Letter Dave Owens2. Retirement Contribution Limits Daniel Fisher3. Rebuilding Nest-Egg Brian O’Connell5. Enhanced Life EstateEdward Hale6. Mortgage Planning - David A. Wright7. Diversify Retirement Investments Dave Owens8. Saving Money With 1031 Theresa Knower9. The Total Control IRA Brandon Hall10. Goal Setting is S.M.A.R.T. BusinessHeather Christie11. Save On Your Taxes in 2009 – Randy Wright12. Roth 2010 Is At Hand Dave Owens
 
Entrust Freedom, LLC, 4560 Via Royale, #1, Fort Myers, FL 33919, Phone: 239-333-1031 www.entrustfreedom.
com
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By Daniel Fisher
 Now is the time to meet with your CPA, Financial Ad-visor or Planner to discuss your current IRA contribu-tions and your IRA contributions or the coming year.You need to be sure that you have not contributed inexcess o the contribution limits or 2009 and that youare eectively planned or 2010. The majority o IRAcontribution limits or 2010 have remained unchanged.However contribution limits or Health Savings Ac-counts have been slightly increased or 2010. The ol-lowing tables show the limits or 2009/2010:
 Traditional IRA ContributionLimits and Roth IRAContribution Limits2009/2010Up to age 50 $5,000Catch Up ContributionsProvision Age 50+$6,000SEP IRA Contribution Limits 2009/2010SEP IRA Contribution Limits$49,000*SIMPLE IRA Contribution LimitsSIMPLE 401(k) Contribution Limits2009/2010Up to age 50 $11,500*Catch Up Contributions ProvisionAge 50+$14,000*Health Savings Ac-counts20092010Defnition o High Deductible Health Plans -Deductibles/Out o Pocket LimitsSingle Coverage -Minimum/Maximum$1,200/$5,950Family Coverage -Minimum/MaximumHealth Savings Account Contribution LimitsSingle Coverage $3,000$3,050Family Coverage $5,950 $6,150Proft Sharing/401(k)Contribution LimitsRoth 401(k) Contribu-tion Limits2009/2010Up to age 50 $49,000Catch Up ProvisionAge 50$54,500
Daniel FisherNew Account SpecialistEntrust Freedom4560 Via Royale #1Fort Myers, FL33901239-333-1031 ext.daniel@entrustfreedom.com
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